APMT in Pipavav move...

APM Terminals (APMT), the terminal operating arm of Denmark’s AP Moller Group, which began its foray into India’s ports segment by buying a small stake in Pipavav port on the country’s west coast, has completed its efforts to take almost full control of the port.

AMPT’s plans to gain control of Gujurat Pipavav Port Ltd had been blocked by various government moves but nearly all hurdles have now been crossed. The Economic Times newspaper said that Nikhil Gandhi’s Sea King Infrastructure, which originally set the port up, has paid Rs3.4 bill (US$77.8 mill) to the Gujarat state government to clear a loan it had taken to build a shipyard....

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This complete item is approximately 325 words in length, and appeared in the April 2005 issue of WorldCargo News, on page 9.

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